APPOINTMENT OF THE SHARE ESCROW AGENT AND ESTABLISHMENT OF ESCROW DEMAT ACCOUNT. 2.1 The Company and the Selling Shareholders, after consultation with the Lead Managers, hereby appoint Link Intime India Private Limited to act as the Share Escrow Agent under this Agreement and Link Intime India Private Limited hereby accepts such appointment on the terms and conditions set forth herein. The Share Escrow Agent (acting on the instructions of the Company) shall operate the Escrow Demat Account and undertakes to open the Escrow Demat Account (acting on the instructions of the Company) with a Depository Participant within one (1) Working Day from the Agreement Date but in any event prior to the filing of the Red Xxxxxxx Prospectus. Immediately on the opening of the Escrow Demat Account, the Share Escrow Agent shall inform each of the Company, the Selling Shareholders and the Lead Managers by a notice in writing confirming the opening of the Escrow Demat Account in a form as set out in Schedule V. Such written notice may be sent in accordance with Section 10.1 of this Agreement such that each of the relevant recipients receives it on the same day of opening of the Escrow Demat Account. All expenses with respect to opening, maintaining and operating the Escrow Demat Account in accordance with the terms of this Agreement will be borne in accordance with the Offer Agreement and Applicable Law. The Escrow Demat Account shall be operated strictly in the manner set out in this Agreement.
2.2 Any service fee charged by the Share Escrow Agent for services provided under this Agreement will be inclusive of the applicable GST under the Applicable Law. The Share Escrow Agent will pay the applicable GST to the Government exchequer and file periodic returns / statements, within such time and manner as prescribed under the GST under the Applicable Law and will take all steps to ensure that the Company or the Selling Shareholders, as the case may be, receives the benefit of any credit of GST paid to the Share Escrow Agent.
2.3 All costs, fees and expenses with respect to maintaining and operating the Escrow Demat Account in accordance with the terms of this Agreement will be borne by the Company and the Selling Shareholders (in proportion of its respective Sold Shares), in accordance with the Offer Agreement. It is hereby clarified that the Registrar to the Offer or Share Escrow Agent shall not have any recourse to any of the Selling Shareholders or the Offered Shares placed in the Escrow Demat Account, for any amounts due and payable in respect of their se...
APPOINTMENT OF THE SHARE ESCROW AGENT AND ESTABLISHMENT OF ESCROW DEMAT ACCOUNT. 2.1. The Company and the Promoter Selling Shareholder hereby severally and not jointly appoint KFin Technologies Limited to act as the Share Escrow Agent under this Agreement, to open and operate the Escrow Demat Account, and the Share Escrow Agent hereby accepts such appointment on the terms and conditions set forth herein. The Share Escrow Agent shall provide a list of documents to be provided by the Company for opening of the Escrow Demat Account immediately upon execution of this Agreement. The Share Escrow Agent shall ensure opening of the Escrow Demat Account by the name of “Hyundai Motor India Limited ” with the Depository Participant no later than one (1) Working Day from the date of this Agreement and in any event, at least two (2) Working Days prior to the Deposit Date and confirm the details of the opening of such Escrow Demat Account to other Parties in accordance with Clause 2.2. Provided that, the Share Escrow Agent shall ensure that the Escrow Demat Account is opened in such time as indicated in this Clause 2.1 for the Promoter Selling Shareholder to comply with Clause 3.1 below. The Escrow Demat Account shall at all times be operated strictly in the manner set out in this Agreement.
APPOINTMENT OF THE SHARE ESCROW AGENT AND ESTABLISHMENT OF ESCROW DEMAT ACCOUNT. 2.1. The Company and the Selling Shareholders, in consultation with the BRLMs hereby appoint Link Intime India Private Limited to act as the escrow agent (the “Share Escrow Agent”) under this Agreement, to open and operate the Escrow Demat Account, and the Share Escrow Agent hereby accepts such appointment on the terms and conditions set forth herein. The Share Escrow Agent shall provide a list of documents required for the opening of the Escrow Demat Account to the Company and Selling Shareholders immediately upon the execution of this Agreement and shall open the Escrow Demat Account with the Depository Participant within one (1) Working Day from the date of this Agreement and in any event prior to the Deposit Date and confirm the details of the opening of such Escrow Demat Account to other Parties in accordance with Clause
2.2. The Escrow Demat Account shall be operated strictly in the manner set out in this Agreement.
APPOINTMENT OF THE SHARE ESCROW AGENT AND ESTABLISHMENT OF ESCROW DEMAT ACCOUNT. 2.1 The Company and the Selling Shareholders, after consultation with the Lead Managers, hereby appoint Link Intime India Private Limited to act as the Share Escrow Agent under this Agreement and Link Intime India Private Limited hereby accepts such appointment on the terms and conditions set forth herein. The Share Escrow Agent shall provide a list of documents required for the opening of the Escrow Demat Account to the Company and each of the Selling Shareholders immediately upon execution of this Agreement. The Share Escrow Agent undertakes to open the Escrow Demat Account with a Depository Participant within one (1) Working Day from the Agreement Date but in any event prior to the filing of the Red Xxxxxxx Prospectus. Immediately on the opening of the Escrow Demat Account, the Share Escrow
APPOINTMENT OF THE SHARE ESCROW AGENT AND ESTABLISHMENT OF ESCROW DEMAT ACCOUNT.
2.1 The Company and each of the Selling Shareholders, severally and not jointly, hereby appoint KFin Technologies Limited to act as the share escrow agent (“Share Escrow Agent”) under this Agreement to open and operate the Escrow Demat Account, and KFin Technologies Limited hereby accepts such appointment on the terms and conditions set forth herein.
